“Pacific Standard Time: LA/LA,” the art extravaganza that fills some 70 Southern California art institutions to celebrate the foundational presence of Latin American art in the region, is now under full sail. And probably none of its exhibitions more accessibly capture the hemispheric dynamic than “How to Read El Pato Pascual: Disney’s Latin America and Latin America’s Disney.” In 1941, Walt Disney traveled to South America with a small army of artists and screenwriters as part of the United States government’s postwar “Good Neighbor” policy. The trip produced Latinized versions of Donald Duck and Mickey Mouse in Disney films and accusations of cultural imperialism by Latin American artists. The tale unfolds in this ingeniously thought-out Los Angeles show (through Jan. 14) divided between the MAK Center for Art and Architecture at the Schindler House and the Luckman Fine Arts Complex at the California State University, Los Angeles.